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ISR resume trading on March 6
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Starship
Supreme |
03-Jul-2019 10:38
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Name change to suck in new uninformed investors??............   But stll the same old wolf in new sheep' s clothing...................  ISR Capital changes name to Reenova Investment Holding TUE, JUL 02, 2019 - 9:31 PM ISR Capital has changed its name to Reenova Investment Holding. The special resolution relating to the name change was passed by shareholders at an extraordinary general meeting held on June 28. The company lodged the notice of resolution with the Accounting and Corporate Regulatory Authority, which on July 2 issued a notice of change of name, and the certificate of incorporation on change of name of company. The company on Tuesday said it will arrange with the Singapore Exchange (SGX) to change its trading counter name on the SGX mainboard. https://www.businesstimes.com.sg/companies-markets/isr-capital-changes-name-to-reenova-investment-holding  |
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KeyMaster
Member |
26-Jun-2019 09:50
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The End? https://www.businesstimes.com.sg/companies-markets/isr-capital-fails-to-meet-sgx-requirements-to-stay-out-of-watch-list | ||||
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grateful
Senior |
06-Jun-2019 14:27
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If it is so deadly, why did SGX still allow listed companies to do convertible loans/bonds? At least those companies with proper management taken the " death spiral convertible bonds" are still trading. The real deadly ones are those oil & gas MTN or bonds and Hyflux perpetual securities. Now suspended! They are the far better blue chips, now become blue-black chips.
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Starship
Supreme |
04-Jun-2019 15:48
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An international article by our esteemed Prof Mak Yuen Teen.................   Avoiding Potholes In Listed Companies Mak Yuen Teen and Richard Tan Chuan Lye Death spiral convertibles In his Regulator&rsquo s Column on 25 August 2016, Mr Tan Boon Gin, the then chief regulatory officer of SGX and current CEO of SGX Regco, warned about the impact and risks of &ldquo death spiral convertibles&rdquo . As he explains, &ldquo death spiral convertibles&rdquo are &ldquo convertible bonds where the conversion price is not fixed. A subscriber exercises such a convertible based on a formula where the conversion price &ldquo floats&rdquo or is pegged to the market price of the shares at the time of conversion. The conversion price is also always at a discount to, or lower than, the market price prevailing at the time of conversion. If the market price of the shares falls, the conversion price declines and the number of shares the subscriber gets at exercise will increase. Conversely, a rising market price for the shares will mean a higher conversion price and fewer shares for the subscriber at exercise.&rdquo He warns about the following risks of &ldquo death spiral convertibles&rdquo : acute dilutive and share price impact, adverse impact on the company&rsquo s ability to obtain other financing, possible restrictions and complex pre-emptive rights, high up-front fees and break fees, and other adverse effects on shareholders (such as priority claims on winding up or liquidation for securities that have not been converted). Death spiral convertibles Where companies have issued such &ldquo death spiral convertibles&rdquo , there is a very high risk that the share price will go into a free fall. &ldquo &rdquo A Business Times article on 10 June 2016 (&ldquo Singapore-based firm starts fund to buy ' death spiral' convertibles&rdquo ) mentioned a number of companies that have used such convertibles, including Annica Holdings, Attilan Group (the former Asiasons Capital), Cacola Furniture International, Elektromotive Group, ISR Capital, LionGold Corp, Magnus Energy Group, OLS Enterprise and YuuZoo Corp. Where companies have issued such &ldquo death spiral convertibles&rdquo , there is a very high risk that the share price will go into a free fall. http://governanceforstakeholders.com/wp-content/uploads/2019/04/cgpotholes-2019.pdf |
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grateful
Senior |
04-Jun-2019 15:21
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read the technical report by the independent qualified person in the company' s circular dated 15 October 2018 to understand a bit more. apparently, this rare earth project of ISR is not the same as the other hard rock mineralisation mines. theirs is REE ionic clay mineralisation - layman understanding, rare earth elements is found in this mud-like clay the conclusions drawn by the IQP were interesting: Pg 96 of the circular: " it is important to therefore to adopt a low-cost extraction process to maximise the potential of the resource" Pg 97 of the circular: " Overall the mining operation is considered low risk." Pg 104 of the circular: " An initial production scale of 10,000t of contained rare earths appears reasonable. Based on the testwork to date, the concentrate is likely to contain a significant proportion of the more valuable HREEs with low U and TH values, and should be readily saleable." U = uranium and Th = Thorium > > > these are radioactive Not vested, but got interested because of the hot topic on rare earths Will be interesting if ISR really produce rare earths.
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zillion
Master |
30-May-2019 21:26
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Dr M announced in Tokyo Lynas can continue in Malaysia not to lose a huge investment. | ||||
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Starship
Supreme |
30-May-2019 18:24
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That' s the problem with US and many other western powers. They are happy to dig in other countries and pollute/poison/destroy these countries' environment.  But are not willing to dig in their own countries. Just look at the big hoohah with the Aussie mine in Malaysia.
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zillion
Master |
30-May-2019 17:11
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What's taking them so long to start? Now China suspects to use their monopoly in rare earth elements ace card for its trade war. | ||||
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grateful
Senior |
30-May-2019 15:01
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just checked their announcements, " In view of the growth potential in the demand for rare earth elements, the Group remains committed to bringing the greenfield rare earth mine, which it had legally completed the acquisition of its 60% stake in Tantalum Holding (Mauritius) Ltd (&ldquo THM&rdquo ) on 3 January 2019, to commercialisation. It is evident that the 238km2 concession area in north-western Madagascar, Africa hosted rare earth oxides, and the Group believes that bringing it to commercial production will generate earnings for the Group and maximise value for its shareholders in the long term." No idea how long they will take to bring it to commercial production in Madagascar, but now the mining license may worth some money. The Edge magazine mentioned that the valuation of this greenfield mine is US$48 million.
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SmallSmall
Supreme |
30-May-2019 13:34
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Rare earth play?
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tec96157
Senior |
29-May-2019 15:22
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Does this ISR moving soon? | ||||
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nqing87
Supreme |
10-Jan-2019 19:11
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Many clowns companies in sgx.. its a matter of playing a big or small clown lol | ||||
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Starship
Supreme |
10-Jan-2019 18:58
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Another Clown stock in the SGX Circus Maximus. ISR Capital ordered to hold fresh shareholder vote on contentious African mine deal THU, JAN 10, 2019 - 6:48 PM ISR CAPITAL must get investors to ratify a recent mine purchase, or risk running afoul of listing rules. Bourse regulator Singapore Exchange Regulation (SGX Regco) slapped ISR with a notice of compliance on Thursday - the latest development over a S$3 million deal for a rare-earth concession in Madagascar. ISR said on Dec 31, 2018 that it had sealed a deal for the 60 per cent stake in Tantalum Holding (Mauritius), after waiving an earlier condition precedent for a cash flow budget and liquidity plan. The investment company was then asked by SGX Regco to obtain shareholder approval for the waiver before it went ahead and paid for the deal with some 747.3 million new shares. But ISR held that such approval was not needed because the waiver did not prejudice shareholders and would not have an adverse impact on the company. ISR went ahead with the allotment and issue of the so-called consideration shares on Jan 3, 2019. Thursday' s notice, signed by SGX Regco head of listing compliance June Sim, now requires ISR to hold an extraordinary general meeting " as soon as possible" for shareholders to ratify the transaction. If the deal is not ratified in the shareholder vote, SGX Regco said, then the regulator would reserve its rights to bar the listing of the consideration shares. Failure to comply with SGX Regco requirements " shall be deemed to be a contravention of the listing rules" , the bourse regulator added. According to its notice, SGX Regco " was concerned about whether the waiver would have a material bearing on shareholders' decision" . The regulator cited how ISR' s waiver was disclosed after shareholders' approval had been obtained - at an extraordinary general meeting in October 2018, more than two years after the acquisition was first floated - and just days before the transaction went through. As for ISR' s position that a cash flow budget and liquidity plan would not be a material consideration for the mining deal, SGX Regco rejoined that " the company' s funding and financing ability has a material bearing on the company' s ability to bring the project to completion" . https://www.businesstimes.com.sg/companies-markets/isr-capital-ordered-to-hold-fresh-shareholder-vote-on-contentious-african-mine |
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Starship
Supreme |
03-Jan-2019 09:25
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Run for your lives..................... ISR Capital says no to SGX request for shareholder nod for mining asset purchase THU, JAN 03, 2019 - 8:59 AM ISR Capital resisted a Singapore Exchange request that it seek shareholder approval for the waiver of a condition precedent to its purchase of a stake in a mining asset in Madagascar, just as the long-drawn out S$3 million acquisition was supposed to have drawn to a close. The company had announced this week that the purchase of a 60 per cent stake in Tantalum Holding (Mauritius) (THM) would be completed on or around Dec 31, following a decision to waive a conditition precedent relating to " the cash flow budget and liquidity plan having been agreed on by the buyer with the seller and/or the target company" . The long-stop date was also extended to Jan 3. THM fully owns Tantalum Rare Earth Malagasy SARLU (TREM), which in turn holds an exploration licence for a rare-earth mining concession in Madagascar. On Jan 2, SGX asked the company by email to seek shareholders&rsquo approval for the waiver before paying for the acquisition, saying the condition precedent was material and will have an adverse impact on the company and the potential development and/or operation of the commercial production of the target company and the mining asset. " Shareholders had approved on the basis that the company will not waive such material conditions," the SGX said. A disclosure in a circular dated Oct 15 had said that the &ldquo company will not waive any conditions precedent if such waivers will be prejudicial to the interest of the shareholders, and the board will be accountable to the shareholders of the company." ISR responded on the night of Jan 2 to say that shareholder approval is not required. The waiver is not prejudicial to the interest of the shareholders and will not have an adverse impact on the company and the potential development and/ or operation of the commercial production of the target company and the mining asset, it said. ISR said that a technical report prepared by Behre Dolbear from September had valued the project at a preferred value of US$44.5 million, rather than the cash flow budget or a liquidity plan. It also said that it estimates expenses required for the project is likely to be US$10 million to US$15 million, based on discussions with THM and TREM and this amount was reflected in the circular. ISR also pointed out that the circular stated that the company intends to acquire and control the target company first before conducting a feasibility study of the project. The board believes that the cash flow budget and liquidity plan will be more reliable if these are prepared concurrently with or using the results of the studies which will be conducted after the sale is completed, ISR said. The company also thinks that they should prepare the budget and plan based on their own plans post completion of sale, " rather than relying on the vendor to prepare the reports" . " It is not practical for the company to conduct a feasibility study first as this would require considerable time and additional funding which will lengthen the acquisition process. Further, the consideration for the proposed acquisition may increase significantly if the feasibility study is conducted first," the Oct 15 circular had said. ISR Capital requested a lift in its trading halt on Jan 3 before market open. It had called for a trading halt pending an announcement on Wednesday morning. https://www.businesstimes.com.sg/companies-markets/isr-capital-says-no-to-sgx-request-for-shareholder-nod-for-mining-asset-purchase  |
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Carney
Member |
31-Oct-2018 23:45
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Progress finally! | ||||
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KeyMaster
Member |
31-Oct-2018 16:39
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http://www.isrcap.com/attachment/2018103020480413379392_en.pdf | ||||
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grateful
Senior |
22-Oct-2018 16:26
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suntec office they buy one meh? but good to save money on office rental.
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zillion
Master |
22-Oct-2018 16:16
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wa so free got nothing to do isit past 3 days just makan 200 shares daily! | ||||
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AttasBoss
Elite |
05-Aug-2018 19:58
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they annonced change of reg office address to singpost from suntec..seems they will dispose their suntec office soon. this gonna boost their balance sheet in due course. |
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Starship
Supreme |
02-Apr-2018 14:08
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I' m sure BBs can' t wait to enter this counter........................... to trap retail investors, yet again. Lol.
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